How to legally transfer share within a Ltd company
Discussion
I am taking on a partner to work with me as a Director within my (soon to be our) Ltd company.
1. Apart from filling out a 288a form with Companies House what other procedures do I need to go through?
2.Can anybody point me in the direction of any standard documents for this kind of relationship?
3. How do I legally sell half of the company share to him?
Sorry for so many questions but I have not done this before.
Kind regards
Sam
1. Apart from filling out a 288a form with Companies House what other procedures do I need to go through?
2.Can anybody point me in the direction of any standard documents for this kind of relationship?
3. How do I legally sell half of the company share to him?
Sorry for so many questions but I have not done this before.
Kind regards
Sam
Talk to your accountant?
Are you issuing new shares to the new shareholder or are you merely transferring some shares that are already issued and in your (or someone else's) ownership?
If new shares are being issued, an allotment of shares form needs to be forwarded to Companies House.
If shares are being transferred to the new shareholder, a Stock Transfer form needs to be completed and submitted to HM revenue and Customs stamps office together with the relevant Stamp Duty (usually £5 for small level transfers).
Are you issuing new shares to the new shareholder or are you merely transferring some shares that are already issued and in your (or someone else's) ownership?
If new shares are being issued, an allotment of shares form needs to be forwarded to Companies House.
If shares are being transferred to the new shareholder, a Stock Transfer form needs to be completed and submitted to HM revenue and Customs stamps office together with the relevant Stamp Duty (usually £5 for small level transfers).
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